VAT Management Software is a business solution approved and enlisted by National Board of Revenue (NBR), the apex body of tax administration in Bangladesh. This software is basically a accounting software empowers the business and people to be more productive in manufacturing, Trading, distribution and other services organizations. The software is a integrated solution enabling business to benefit from a deeper visibility into their front and back office operations.

Why VAT accounting software?

VAT system is a chain-like system which is intra related throughout the system. There is mushak impact on every financial transaction. At the end of every month there creates an automatically generates mushak records separately. If this was manually written/driven, it could be time consuming and there would be the possibility of human error. but by the use of electronic system, it will be maintain well and cost-effective.

As per new law, VAT is an inclusive method which is calculated during any financial transaction. Every sale or purchase is a financial activity where calculation is making done by increasing or decreasing adjustment. In some cases, Authority has given profound emphasizes for sending electronic data from all business organizations. In every month company will have to send electronic copies of these financial records, both sales and purchase (particularly which are above 2 lacs) to the authority.

Furthermore, Business Organizations will have to send the electronic copies of monthly return (Mushak - 9.1) within a time limit that is scheduled as 1 to 15th of next month. There is a forced obligation in the law that the financial transaction should be through banking channel if the transaction amount is more than 25,000 taka. NBR can audit anytime of the last 5 years financial records so it is mandatory to keep the financial data of at least last 5 years electronically in the Organization servers for avoiding any hassle. So software is the sole media through which anyone can do the transaction comfortably and preserve the data by following law.

Integration with SAP/ERP

Software will automatically integrate with SAP/ ERP and records will populate as per new law. Integration media could be database to database connectivity, staging table process or excel. A scheduler will maintain to insert or update records from ERP system to VAT system.

The VAT Management Software is developed for:

  • Manufacturer
  • Trader
  • Importer
  • Exporter
  • Service Renderer

Basic Features:

  • The software is parameterized.
  • Rules Management.
  • Rate Management
  • Unit management
  • Product and Service Code harmonization
  • Cost Analysis
  • Procurement
VAT Act 1991:

  • Value Declaration
  • Inventory (Mushak –16, 17, Form Ka)
  • Sales (Mushak – 11, 11Ka, etc)
  • Accounting
  • Credit Management
  • VAT Adjustment
  • Export
  • Exemption, Zero Rate management
  • Refund, Drawback
  • Debit note/Credit note
  • VDS (VAT Deduction at Source)
  • EDS (Excise duty Deduction at Source)
  • TDS (Tax Deduction at Source)
  • Payment and Account Current (Mushak – 18)
  • Wastage management (Mushak – 26)
  • Return (Mushak – 19)
  • Finish goods Damages (Mushak -27)
VAT & SD Act 2012:

  • Mushak - 6.1
  • Mushak - 6.2
  • Mushak - 6.3
  • Mushak - 6.4
  • Mushak - 6.5
  • Mushak - 6.6
  • Mushak - 6.7
  • Mushak - 6.8
  • Mushak - 6.9
  • Mushak - 6.10
  • Mushak - 9.1
  • Mushak - 9.2
  • Mushak - 4.1
  • Mushak - 7.1
  • Mushak - 18.1
  • Mushak - 18.2
  • Mushak - 18.3